Only a few moments remain for major announcements related to “reciprocal tariffs” against major world powers, including the close allies of the USA scheduled to be headed by 2nd time elect President Donald Trump. As per reports, the Trump administration is expected to impose a 25% tariff on all auto imports along with other tariff-related announcements.
However, if placed properly, Ripple Lab’s XRP coin can be one of the top benefactors after today as it is the leading cross-border financial payment blockchain technology around the globe. Moreover, with its recent dismissal of the XRP vs SEC lawsuit, the organization is back on its feet with a successful integration of the RLUSD in Ripple payments.
Wondering about the short comings of the 2nd largest altcoin by market capitalization? In this write up, we will under the technical sentiment and possible Ripple price analysis.
XRP Price On The Verge Of A Major Breakout?
Amid increased volatility, the Ripple price has formed an inverted head and shoulder pattern in the hourly time frame. This price pattern indicates a high possibility of a strong bullish reversal within a short time frame. With a trading volume of $3.97 billion, the XRP price is listed at $2.1786.
Source: TradingView
The Moving Average Convergence Divergence (MACD) displays a constant rise in the 1H time frame. Moreover, its EMA 14 & 26-days experience a similar price trend, suggesting an increase in the buying pressure for the 2nd largest altcoin in the shorter time frame.
While the 50-day EMA acts as an important resistance trend level to the XRP coin price chart, the EMA 200-day is on the verge of displaying a positive crossover. This highlights a significant rise in the price action.
How High Will XRP Price Rise?
If the price of XRP token breaks out of its important resistance zone, this could result in it heading toward its immediate price target of $2.33. A positive output from the Trump Tariff announcement could set the stage for this altcoin to head toward its higher price range of $2.50.
Conversely, a strong bearish rejection around the $2.15 range could pullback the Ripple price toward its crucial support of $2 within a short period. Furthermore, if the bearish sentiment intensifies, this could result in its plunging toward its lower grounds of $1.75 this month.
